#IGCommodityChat: Base Metals

Join us on Thursday 6th December at 1pm for the final #IGCommodityChat, when we will be talking to economist Daniel Lacalle and mining analyst John Meyer about base metal markets. Put your questions to the experts as part of the live Q&A by using #IGCommodityChat using the comments section below.

Submit your questions now

There will be a live Q&A during the session, so you can put forward any topics you want answered. Post your questions to the #IGCommodityChat using the comments section below, and check out one of the latest #IGChats we recently posted on oil and gold to get a flavour of what to expect. The show will be broadcast live from within the dealing platform as well as via a special YouTube link and on various social channels.

How political unrest impacts base metal supply

What the effect of the US-China trade war has been on base metal prices

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Guest Dr Copper Popper

Is copper as good a 'bellwether indicator' as so many people have said in the past? To me is seems geo-political tensions push indices about, AS WELL AS metals. Nothing shows them being indicators, simply causal to macroeconomic events.

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Guest Trader Base Metals

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I read that 3 and 5 year bonds have 'inverted', which might be taken as a warning indicator of a recession. Are there any correlating indicators in the Base Metal Market, either now, or might be looked for in the near future that will serve as confirmation?

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Guest Znspread

What do you atribute the current tightness (backwardation) in the zinc spreads too, physical or speculative activity? Basis that what impact do you think this will have on outright prices as we roll through that period.

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Guest vivaneil

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"Palladium is more valuable than gold for the first time since 2002, with prices soaring by around 50 percent in less than four months to record levels" - it looks like this is on the back of emissions-reducing catalysts for vehicles. Is this trend likely to continue or will supply catch up to demand?

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The AUD continues to trade lower following the Chinese ban of Australian coal to its Dalian port. The ASX has benefited for the weaker exchange rate as it is trading at its highest level since October.

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Wall Street pulls back: On balance, and with Wall Street a few hours from ending its session, it's been a soft 24 hours for equities. The often heard calls of a looming "new-peak" in the market in the shorter term can be heard from some. Momentum has certainly slowed down. The S&P500 has its eyes one 2815 again - that crucial area where that index sold off on three occasions from October to December last year. It could be a slow drive to arrive at a challenge of that level now. The dovish Fed will keep the wind behind US stocks; but the earnings outlook, post reporting season, has dimmed on Wall Street, while positive regarding the trade war has already been heavily juiced.

Trade war truce already priced in? Markets are positioned for a relatively positive outcome in the trade-war, and that's manifesting in pockets of market activity. A true resolution in the trade war isn't expected, however an extension to be March 1 trade-truce-deadline seems to be. The overnight fall in US Treasuries, coupled with a topside break of copper's recent range, is a testament to this sentiment. The yield on the US 10 Year note has jumped back towards 2.70 percent, while the 3 month copper contract on the LME leapt another 0.83 per cent overnight. In G4 currencies, the US Dollar is stronger against the Euro and Pound, albeit very, very marginally, but weaker against the Yen.

The curious case of gold: Gold prices have dipped slightly courtesy of the stronger Dollar and greater confidence in the policy-outlook for the world's major central banks. The price of the yellow metal is sitting just above $1325 presently, as it continues its short term trend higher. One of the more divisive debates amongst traders currently is the outlook for gold. Like any market, time horizons are crucial to illustrating the trend for an asset's price.

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